Singapore economy to remain robust in Q1

SINGAPORE : Singapore's economy is expected to maintain robust growth at 5.9 per cent on-year in the first quarter of 2011. Economists polled by Channel NewsAsia said GDP growth could hit around 11.7 per cent on-quarter. Most experts also expect the Monetary Authority of Singapore (MAS) to further tighten its policy stance. The views came a day before the government releases its advanced GDP estimates together with the semi-annual monetary policy review by the central bank. The services sector will likely be the star performer when the Ministry of Trade & Industry (MTI) releases its advanced growth estimates for the first quarter on Thursday. Economists said strong tourist arrivals have likely boosted retail, tourism and other related sectors during the first three months of 2011. DBS Bank said services will likely pick up some of the slack in the manufacturing sector. The...